During the first 3 months of 2024, rents for retail spaces across Qatar slightly decreased returning to 2023 levels by the third quarter, according to experts from Qatar's e-realty platform, hapondo. 

However, average asking rents increased in many of Qatar's retail areas during the fourth quarter of 2023. 

Researches observed that most retail shops saw rent drop from QAR214 per sqm to QAR182 per sqm from January to March 2024. Analysts noted that key commercial areas like Al Sadd experienced a rent decrease for two consecutive quarters, reaching QR157/sqm in Q1. 

The Q4 2023 rent spike was driven by the landlord's optimism for events like the AFC Asian Cup and increased shop listening in Doha, likely remnants from the FIFA World Cup. By Q1, landlords adjusted their expectations, leading to rent decreases. 

These rent reductions are good news for tenants, offering considerable fitted spaces outside malls, saving businesses on fit-out costs, Despite the rent drop, Qatar; 's retail sector saw significant development, including the launch of Velero Mall in Lusail and the 'Shop Qatar' campaign. Additionally, Doha Festival City celebrated its 500th lease now fully rented. 

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